The YieldMax NVDA Option Income Strategy ETF (NVDY) closed at $18.83 on January 31, down 2.74%, as Nvidia's stock faced a 3.39% decline to $120.42 amid heightened market volatility. Nvidia's stock has been under pressure following the emergence of DeepSeek, a Chinese AI startup, which has introduced cost-effective AI models that challenge Nvidia's dominance in the AI chip market. This development has led to a historic 17% plunge in Nvidia's stock earlier in the week, erasing nearly $600 billion in market capitalization. The market's reaction reflects concerns over Nvidia's future growth prospects, as DeepSeek's models utilize less expensive, older Nvidia chips, raising questions about the necessity of Nvidia's premium hardware. Despite a partial recovery in Nvidia's stock, which rose as much as 2.6% during Friday trading, the stock remains about 15% below its record high, hovering near its 200-day moving average. This technical level is crucial for traders, as breaking below it could signal further downside.